Coca-Cola Consolidated (NASDAQ:COKE) Trading Up 7.1% – Here’s What Happened

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price traded up 7.1% during trading on Tuesday . The stock traded as high as $199.30 and last traded at $199.5660. 193,327 shares traded hands during trading, a decline of 63% from the average session volume of 524,241 shares. The stock had previously closed at $186.28.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

The firm has a 50-day moving average of $181.31 and a 200 day moving average of $181.07. The company has a market capitalization of $13.07 billion, a PE ratio of 26.86 and a beta of 0.54.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%. The firm had revenue of $1.71 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 13.68%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB increased its position in shares of Coca-Cola Consolidated by 1.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 17,130 shares of the company’s stock valued at $3,270,000 after purchasing an additional 300 shares during the last quarter. Affinity Capital Advisors LLC purchased a new stake in Coca-Cola Consolidated during the second quarter valued at approximately $263,000. Versant Capital Management Inc raised its position in Coca-Cola Consolidated by 125.3% in the second quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $83,000 after acquiring an additional 243 shares during the period. Ballast Advisors LLC bought a new position in Coca-Cola Consolidated in the first quarter worth approximately $38,000. Finally, Empowered Funds LLC bought a new position in Coca-Cola Consolidated in the 1st quarter worth $795,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Company Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.